ServiceNow plummets 24% as earnings revive AI disruption concerns
ServiceNow $NOW shares sank 24% following earnings results that reignited investor fears over AI-driven disruption to software business models. The steep decline signals market concern that artificial intelligence may accelerate customer consolidation and compress margins in enterprise software.
The sharp selloff underscores a broader pullback in software valuations, with Fortinet and other cybersecurity names also retreating after missing investor expectations, suggesting a repricing of the AI upgrade cycle's profitability benefits.
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